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Credit Spreads, Monetary Policy and the Price Puzzle
28 Jan 2020
RDP
2020-01
Research Discussion Paper – RDP 2020-01 Credit Spreads, Monetary Policy and the Price Puzzle. Benjamin Beckers. January 2020. 1.9. MB. 460. KB. Supplementary information. debt, inflation, interest rates, monetary policy, money. Identifying the
https://www.rba.gov.au/publications/rdp/2020/2020-01.html
Conclusion
28 Jan 2020
RDP
2020-01
RDP 2020-01: Credit Spreads, Monetary Policy and the Price Puzzle 7. Conclusion. Benjamin Beckers. January 2020. Download the Paper 460. KB. There is considerably uncertainty about the extent to which monetary policy affects economic activity and
https://www.rba.gov.au/publications/rdp/2020/2020-01/conclusion.html
Appendix B: Derivation of Estimators
28 Jan 2020
RDP
2020-01
RDP 2020-01: Credit Spreads, Monetary Policy and the Price Puzzle Appendix B: Derivation of Estimators. Benjamin Beckers. January 2020. Download the Paper 460. KB. Model:. B1. π. t. =. α. β. X. t. 1. γ. Z. t. 1. ε. t. B2. X. t. =. θ. r. t. t.
https://www.rba.gov.au/publications/rdp/2020/2020-01/appendix-b.html
Appendix C: Variable Definitions
28 Jan 2020
RDP
2020-01
RDP 2020-01: Credit Spreads, Monetary Policy and the Price Puzzle Appendix C: Variable Definitions. Benjamin Beckers. January 2020. Download the Paper 460. KB. Table C1: Variable Definitions and Sources. Variable. Definition. Source. cr. t. Cash
https://www.rba.gov.au/publications/rdp/2020/2020-01/appendix-c.html
Appendix A: Literature Review
28 Jan 2020
RDP
2020-01
RDP 2020-01: Credit Spreads, Monetary Policy and the Price Puzzle Appendix A: Literature Review. Benjamin Beckers. January 2020. Download the Paper 460. KB. For Australia, early research finds mixed evidence for the response of prices to monetary
https://www.rba.gov.au/publications/rdp/2020/2020-01/appendix-a.html
References
28 Jan 2020
RDP
2020-01
RDP 2020-01: Credit Spreads, Monetary Policy and the Price Puzzle References. Benjamin Beckers. January 2020. Download the Paper 460. KB. Adrian T and F Duarte (2016), ‘Financial Vulnerability and Monetary Policy’, Federal Reserve Bank of New
https://www.rba.gov.au/publications/rdp/2020/2020-01/references.html
Appendix D: Further Robustness Tests and Results
28 Jan 2020
RDP
2020-01
RDP 2020-01: Credit Spreads, Monetary Policy and the Price Puzzle Appendix D: Further Robustness Tests and Results. Benjamin Beckers. January 2020. Download the Paper 460. KB. In addition to adding domestic and credit market spreads to the baseline
https://www.rba.gov.au/publications/rdp/2020/2020-01/appendix-d.html
Robustness to Model Misspecification and the GFC Episode
28 Jan 2020
RDP
2020-01
RDP 2020-01: Credit Spreads, Monetary Policy and the Price Puzzle 6. Robustness to Model Misspecification and the GFC Episode. Benjamin Beckers. January 2020. Download the Paper 460. KB. I find my results to be robust along several dimensions. In
https://www.rba.gov.au/publications/rdp/2020/2020-01/robustness-to-model-misspecification-and-the-gfc-episode.html
Introduction
28 Jan 2020
RDP
2020-01
RDP 2020-01: Credit Spreads, Monetary Policy and the Price Puzzle 1. Introduction. Benjamin Beckers. January 2020. Download the Paper 460. KB. A higher cash rate dampens economic activity and reduces inflation. This is the standard prediction of
https://www.rba.gov.au/publications/rdp/2020/2020-01/introduction.html
Credit Market Conditions and the Bank's Forecast Errors
28 Jan 2020
RDP
2020-01
RDP 2020-01: Credit Spreads, Monetary Policy and the Price Puzzle 4. Credit Market Conditions and the Bank's Forecast Errors. Benjamin Beckers. January 2020. Download the Paper 460. KB. The previous section has shown that the cash rate responds
https://www.rba.gov.au/publications/rdp/2020/2020-01/credit-market-conditions-and-the-banks-forecast-errors.html